This week we are reading about EnvisionInsurance contract termination, Madison Dearborn’s acquisition of Benefytt Technologies, a new report from eHealth on PDP savings, and Blue Cross Blue Shield of ND affiliate to offer Medicare Advantage.
EnvisionInsurance Notice of Contract Termination Effective 10/1/20 | EnvisionInsurance |
Effective October 1, 2020, Envision Insurance Company (EIC) is terminating its existing contracts with its network of Field Marketing Organizations, Brokers, Agents, Agencies (collectively “Brokers”) with respect to marketing and selling EIC’s PDP product.
Madison Dearborn Partners Completes Acquisition of Benefytt Technologies| Benefytt | August 21, 2020
Benefytt Technologies, Inc., a health insurance technology company and leading distributor of Medicare-related health insurance plans, announced that funds affiliated with Madison Dearborn Partners, LLC (the “MDP Funds”) have completed their previously disclosed acquisition of Benefytt. The Company will maintain its brand name and build upon its tech-first mission to help consumers connect with Medicare and other health and life insurance products. Gavin Southwell will continue to serve as the Chief Executive Officer of Benefytt, and the Company will remain headquartered in Tampa, Fla.
Medicare Enrollees Could Save $782 on Average if They Optimized Coverage Based on Rx Needs, eHealth Analysis Finds | PR Newswire | August 26, 2020
A new report from eHealth, Inc. finds that average Medicare beneficiaries enrolled in a Medicare Advantage Prescription Drug (MAPD) plan or stand-alone Medicare Part D plan could save $782 per year ($65.17 per month) by enrolling in a more optimal plan for their prescription drug needs.
eHealth’s findings are based on more than 111,000 uses of eHealth’s prescription drug coverage comparison tool by Medicare customers during Medicare’s Annual Enrollment Period (AEP) for 2020 coverage, which took place between October 15 and December 7, 2019.
“The cost of prescription drugs is a top concern for many Medicare beneficiaries but their drug needs and coverage may change from year to year,” said eHealth CEO Scott Flanders. “Our analysis illustrates why we recommend Medicare beneficiaries use this fall’s AEP to review their coverage options for 2021. eHealth’s drug coverage comparison tool can help them save money if they enroll in the optimal plan for their prescription needs.”
Blue Cross Blue Shield of ND affiliate to offer Medicare Advantage |Inforum| August 18, 2020
NextBlue of North Dakota on Tuesday, Aug. 18, announced its entry into the state’s Medicare Advantage market. A Blue Cross Blue Shield of North Dakota affiliate, the new insurance company begins enrollment this fall for the 2021 Medicare Advantage plan year.
In its inaugural year, NextBlue coverage will be available to Medicare-eligible North Dakotans who reside in Burleigh, Cass, Morton, Richland and Stutsman counties. Additional counties will be added in subsequent years. Annual enrollment is available Oct. 15 through Dec. 7.